Thailand, commonly referred to as the "Detroit of the East," is one of the world's top automotive manufacturers, officially ranking 12th. One of the fastest growing sub-sectors of the Thai auto industry is electric vehicle development. Analysts estimate that the number of electric vehicles produced in Thailand will increase to 1.2 million by 2036.
- Definition / Scope
- Market Overview
- Market Risks
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Other Key Market Trends
- Impact of COVID-19
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
An electric vehicle, also known as an EV, is a vehicle that is propelled by multiple electric motors or traction motors. An electric vehicle can be self-contained or powered by electricity from off-vehicle sources via a collector system. Electric vehicles are self-sufficient thanks to electric generators (which convert fuel to electricity), solar panels, or batteries. Passenger cars (PC) and commercial vehicles (CV), which include road and rail vehicles, surface and underwater vessels, and more, are examples of electric vehicles.
Based on Type, the Electric Vehicle Market in Thailand is segmented into the following three types
Battery Electric Vehicle (BEV): A battery electric vehicle (BEV), also known as a pure electric vehicle, only-electric vehicle, or all-electric vehicle, is an electric vehicle (EV) that relies solely on chemical energy stored in rechargeable battery packs for propulsion (e.g. hydrogen fuel cell, internal combustion engine, etc.). Internal combustion engines (ICEs) are replaced by electric motors and motor controllers in BEVs. They have no internal combustion engine, fuel cell, or fuel tank because they get all of their power from battery packs.
Plug-In Hybrid Electric Vehicle (PHEV): A plug-in hybrid electric vehicle (PHEV) is a hybrid electric vehicle with a battery that can be recharged both by an external source of electric power and by the vehicle's on-board engine and generator. The majority of PHEVs are passenger cars, but they also come in commercial and van versions, utility trucks, buses, trains, motorcycles, mopeds, and military vehicles. Plug-in hybrids, like all-electric vehicles, divert emissions from the car's tailpipe to the generators that power the grid. These generators could be renewable or emit fewer pollutants than a conventional internal combustion engine.
Hybrid Electric Vehicle (HEV) is a hybrid vehicle that has both an internal combustion engine (ICE) and an electric propulsion system (hybrid vehicle drivetrain). The presence of an electric powertrain is intended to achieve either better fuel economy or better performance than a conventional vehicle. HEVs come in a variety of shapes and sizes, and their ability to function as an electric vehicle (EV) varies as well. The hybrid electric car is the most common type of HEV, but hybrid electric trucks (pickups and tractors) and buses are also available.
Based on Vehicle Type, the Electric Vehicle Market in Thailand is divided into the following three types
- Passenger Vehicles
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)